Bittime - Bitcoin Cash (BCH), a proof-of-work cryptocurrency that is a fork of Bitcoin (BTC), experienced a price decline after completing the second halving.
Halving is an event that halves mining rewards, and BCH has experienced it twice. The first halving occurred on April 8, 2020, and the second halving has just occurred.
Speculation around the second halving pushed BCH prices up 147.85% over the past three months and 24% over the past 30 days.
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However, in the day leading up to the halving, the price of BCH fell 9.94% to $572.21. Nonetheless, BCH price recovered quickly after the halving, reaching $614. BCH is still down 2.40% over the last 24 hours.
Liquidation and Open Interest
The BCH price drop resulted in liquidations worth a total of $4 million in 24 hours. This liquidation mainly affected long (buy) positions with a value of $2.92 million, while short (sell) positions reached $1.08 million.
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Meanwhile, BCH open interest (total open contract value) continues to soar, reaching $782 million.
A Brief History of Bitcoin Cash
Bitcoin Cash forked from Bitcoin in 2017 due to disagreements within the community regarding scaling and transaction fees.
In 2019, BCH experienced another split, which caused controversy among miners as some did not upgrade to the new chain, resulting in a waste of resources.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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